AM Specialty Announces Strategic Capital Partnership with Veritex Bank
AM Specialty Announces Capital Partnership with Veritex Bank
AM Specialty Insurance partners with Veritex Bank in a multimillion-dollar capital deal to expand underwriting capacity in the specialty insurance market.
We are thrilled to partner with ASIC, a leader in the excess and surplus market.”
DALLAS, TX, UNITED STATES, October 16, 2024 /EINPresswire.com/ -- AM Specialty Insurance Company (ASIC), an AM Best A- rated Dallas-based insurance company and leading provider of Excess and Surplus lines coverage, is proud to announce a strategic capital partnership with Veritex Bank. The initial phase of the senior secured loan facility agreement includes a multimillion-dollar capital provision that will help bolster ASIC’s surplus and position the company for continued growth in the specialty insurance marketplace. — Paul Haney, EVP, Managing Director of Insurance Banking at Veritex Bank
Facilitated by Stonybrook Capital, ASIC’s exclusive financial advisor, this capital partnership will provide increased financial flexibility, allowing the company to expand its underwriting capacity, invest in innovative insurance programs, and further solidify its reputation as a trusted carrier partner in the Excess and Surplus insurance space.
“We are excited to enter into this strategic relationship with Veritex Bank,” said Shevawn Barder, CEO of AM Specialty Insurance Group. “This partnership reflects our commitment to maintaining a strong and resilient business model, enabling us to offer even more stable and predictable risk solutions for the specialty market. The longer-term nature of this partnership means that as we continue to achieve our targets, this capital infusion will continue to empower us to better serve the market and expand our product offerings.”
"We are thrilled to partner with AM Specialty Insurance Company, a leader in the excess and surplus market,” said Paul Haney, EVP, Managing Director of Insurance Banking at Veritex Bank. “This transaction underscores our deep commitment to the insurance industry, and we look forward to supporting AM Specialty as they continue to grow and innovate. Our team provides tailored financial solutions that meet the unique needs of companies like AM Specialty, and this partnership highlights our ongoing focus on fostering long-term relationships within the sector."
ASIC’s focus remains on delivering specialized insurance solutions, with an emphasis on low-limit, non-catastrophic risks, ensuring its partners and clients experience less volatile and more predictable results.
About AM Specialty Insurance Company:
AM Specialty Insurance Company is an Arizona-authorized domestic Excess and Surplus Insurance Company and an Accredited Reinsurer, specializing in providing comprehensive specialty insurance solutions. With a strong focus on innovation, stability, and predictability, ASIC offers tailored insurance products that help reduce volatility. For more information, visit https://www.amspecialty.com/
About Veritex Bank:
Veritex Bank is a full-service financial institution based in Dallas, Texas, providing a broad range of banking services to businesses and individuals. Veritex is committed to supporting its clients' growth through flexible, personalized banking solutions. For more information, visit https://veritexbank.com/
Brendan Kelly
AM Specialty Insurance Company
+1 3252839693
brendan.kelly@amspecialty.com
Visit us on social media:
LinkedIn
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
